Monthly Archives: August 2023
The scientist behind IBM Watson has raised $60 million for his AI startup in New York
(CNBC) David Ferrucci, a prominent artificial intelligence researcher who led the team that created IBM Watson, has raised nearly $60 million for his AI startup called Elemental Cognition, according to a regulatory filing. The filing on Thursday says the company […]
Federal judge asks if Elon Musk was trying to ‘cozy up’ to Trump during criminal probe
(CNBC) As part of a criminal investigation into Donald Trump’s effort to overturn the 2020 U.S. presidential election, a federal judge asked if the company formerly known as Twitter was trying to “cozy up” to the ex-president by refusing to […]
Walmart will report earnings before the bell — here’s what to expect
(CNBC) Walmart will report fiscal second-quarter earnings before the bell on Thursday, as the discounter tries to capitalize on customers hungry for lower prices. Here’s what analysts expect from the company for the three-month period, according to consensus estimates from […]
Hedge funds upped Activision stakes ahead of key court decision
(Hedgeweek) Pentwater Capital Management, Jericho Capital Asset Management, Balyasny Asset Management, and Citadel Advisors, all upped their holdings in Activision Blizzard during Q2 ahead of a key court ruling on the video-game maker’s proposed $69bn merger with Microsoft, according to […]
Michael ‘The Big Short’ Burry bets big on stock market downturn
(Hedgeweek) Michael Burry, famed for his winning wagers against the US housing market ahead of the 2008 global financial crisis and subsequent appearance in ‘The Big Short’ book, is betting on a downturn in the US stock market, according to […]
Fed officials see ‘upside risks’ to inflation possibly leading to more rate hikes, minutes show
(CNBC) Federal Reserve officials expressed concern at their most recent meeting about the pace of inflation and said more rate hikes could be necessary in the future unless conditions change, minutes released Wednesday from the session indicated. To read this […]
PE firms adding hedge funds to approved lender lists
(Hedgeweek) Private equity firms, including buyout major KKR & Co, are beginning to add hedge funds to their ‘white lists’ of approved lenders used to arrange funding for leveraged buyout deals, according to a report by Bloomberg. To read this […]
SEC Charges Investment Advisory Firm and Firm’s Owner for Breaching Fiduciary Duties to Clients
(HedgeCo.Net) The Securities and Exchange Commission has Timothy Overturf of Arcata, California and his investment advisory firm Sisu Capital, LLC (Sisu Capital) for breaching their fiduciary duties to clients, including by making unauthorized and unsuitable trades in client accounts from […]
JPMorgan hikes default forecast for emerging markets as Country Garden drives China contagion fears
(CNBC) JPMorgan raised its global emerging markets corporate high-yield default forecast, largely due to rising contagion fears in China’s property sector from a possible Country Garden default. The U.S.-based investment bank raised its 2023 global forecast to 9.7% from 6% […]
Stock futures are little changed as Wall Street looks beyond losing session: Live updates
(CNBC) Stock futures are near flat Tuesday night as investors came off a losing session that marked the latest leg down in an August slump. Futures tied to the Dow Jones Industrial Average added 2 points, trading near the flatline. […]
Digital assets funds see inflows of $29m
(Hedgeweek) Digital asset investment products saw inflows this week totalling $29m, likely due to recent US inflation data, which was slightly below expectations signifying that a September rate hike is less likely, according to the latest Digital Assets Fund Flows […]
MFA preps for SEC fee disclosure legal challenge
(Hedgeweek) A legal clash between hedge funds and private equity firms and the SEC is looming large over the regulator’s proposed plan to tighten rules on the disclosure of fees and dealing with investors, according to a report by Bloomberg. […]
